About ECVAX
Eaton Vance Virginia Municipal Income Fund Class C is a mutual fund specializing in the Virginia municipal bond market. Its primary objective is to provide shareholders with current income that is exempt from both regular federal income tax and Virginia state personal income tax. The fund achieves this by investing at least 80% of its assets in investment-grade municipal obligations issued by the state of Virginia, its political subdivisions, agencies, and authorities. These bonds are typically rated Baa or BBB or higher, focusing on quality and tax efficiency.
The fund employs an actively managed, credit-focused approach, leveraging the expertise of one of the largest municipal bond teams in the country. Portfolio managers utilize rigorous credit research and ongoing credit monitoring to mitigate risk while navigating various sectors within Virginia's municipal landscape, such as transportation, utilities, infrastructure, and housing.
With a monthly distribution frequency, the fund is designed for investors seeking tax-advantaged income and exposure to the municipal fixed-income sector. The fund's expense ratio is higher than some peers, reflecting its Class C share structure, and it has a moderate number of holdings, typically ranging between 70 and 80 securities, which allows for diversified exposure within the targeted state market.
Fund Family Eaton Vance
Category Muni Single State Interm
Performance Rating Below Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol ECVAX
Share Class Class C
Index Bloomberg Municipal Bond TR
ECVAX had a total return of 5.63% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.31%.
